Breakout

The market has broken out and I suspect this will finally get market participants bullish. It could take some time but a short side trade is finally within view. 1130 on the S&P 500 seems like a decent risk/reward entry point.

Dawg,March 1, 2010 (FinancialWire) Direxion said that it will execute a one-for-10 reverse split of the shares of Direxion Daily Emerging Markets Bear 3x Shares ETF (NYSE: EDZ) for shareholders of record after the close of the markets on Wednesday, March 3, 2010. EDZ shares will begin trading on NYSE Arca on a split-adjusted basis on Thursday March 4, 2010.

I am not advocating shorting right here. I am looking ahead a bit.It would be nice if we could get past the employment report and Greece sells bonds. Then everyone could breathe a sigh of relief and I could go short. If bad news on the employment report is bought we probably get a Turnaround Tuesday next week. I dont think this rally lasts 2 weeks more.

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I do not offer investment advice on this site. Under no circumstances does this information represent a recommendation to buy, sell or hold any security. The information is for educational purposes only. Positions may change at any time without notice.